The first watch from Swiss manufacturer Swatch with an embedded payment token is being offered in China by 11 card-issuing bank members of UnionPay. Swatch and UnionPay are using traditional and social media to promote Swatch Pay to cardholders. The NFC-enabled watches sell to consumers for $87 (580 RMB) compared to $83 (550 RMB) for a standard Swatch wristwatch. UnionPay is sponsoring promotional offers including giving cardholders an $8 (50 RMB) credit to their accounts after they activate Swatch Pay. The watches are sold at Swatch retail stores in 28 cities. They are activated in those s...